Rizal Commercial Banking Corporation (RCBC) has successfully implemented the Finacle core banking solution from Infosys on the IBM System server to transform its business and leverage new growth opportunities in an increasingly competitive consumer banking market. The bank expects the move to help position itself as a preferred bank for the future.
The new solution will provide the foundation RCBC needs to create value-added services that will increase customer adoption for its MyWallet electronic cash card, one of its more popular products. The bank is targeting to grow its cash card base by 4 million this year - doubling more than the 1.8 million users it on-boarded last year.
This core banking-led transformation entailed upgrading 96 application systems, reconfiguring over 400 branches and migrating 3.2 million customers. With the potential to impact 3 million transactions month-on-month, the transformation was orchestrated with no disruption in services to RCBC clients.
RCBC, one of the leading private domestic commercial banks in the Philippines, has grown rapidly over the last five years. From its current customer base of 3.6 million, the bank has set a goal of having 10 million new customers by 2014.
Company Name | CMP |
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TCS | 3863.75 |
Infosys | 1414.85 |
HCL Tech. | 1360.40 |
Wipro | 457.25 |
Tech Mahindra | 1266.90 |
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